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Power Sports Market Size
- Report ID: GMI1688
- Published Date: Dec 2022
- Report Format: PDF
Power Sports Market Size
Power Sports Market size exceeded USD 37 billion in 2022 and is projected to expand at more than 6% CAGR from 2023 to 2032. Continuous technological advancements in the field of batteries and electric vehicles will spur the industry expansion.
The powersports industry is highly supported by the development of electric power sports vehicles, especially in Europe. Electric power sports vehicles are experiencing an increase in sales in European nations such as the UK, Germany, and France. The growing demand for electric power sports cars among millennials due to their environmental friendliness and lack of harmful emissions is aiding business expansion. Additionally, the surging emphasis on R&D spending and product innovation is benefitting the industry outlook.
On the other hand, the swelling popularity of off-road sporting competitions in challenging environments is also boosting customer interest in the power sports industry. Several factors including the increased demand for thrilling sporting events with off-highway vehicles such as quads are impelling product adoption. Numerous events by the American Council of Snowmobile Association, the American Motorcyclist Association, and the All-Terrain Vehicle Association are further set to assist the industry development.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Power Sports Market Size in 2022: | USD 37 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 69 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 243 |
| Segments covered: | Vehicle, and Propulsion Type |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Power Sports Market Scope
